The following figure shows two labor demand curves, LD₁ and LD₂, and two labor supply curves, LS₁ and LS₂.
-Refer to the figure above.What is the equilibrium employment when the labor demand curve is LD₂ and the labor supply curve is LS₂?
Definitions:
Drawer
The maker of a draft.
Drawee
The party, typically a bank or financial institution, upon whom a cheque or draft is drawn and is responsible for paying the specified amount to the holder or bearer of the instrument.
Payees
Individuals or entities to whom money is to be paid or is owed.
Discrepancy
A lack of compatibility or similarity between two or more facts, figures, or findings leading to a deviation from what is expected or agreed upon.
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